During January 2018, the following transactions occur:

January 1	Purchase equipment for $21,400. The company estimates a residual value of $3,400 and a five-year service life.
January 4	Pay cash on accounts payable, $11,400.
January 8	Purchase additional inventory on account, $101,900.
January 15	Receive cash on accounts receivable, $23,900
January 19	Pay cash for salaries, $31,700.
January 28	Pay cash for January utilities, $18,400.
January 30	Firework sales for January total $239,000. All of these sales are on account. The cost of the units sold is $124,500.

The following information is available on January 31, 2018.

1. Depreciation on the equipment for the month of January is calculated using the straight-line method.
2. The company estimates future uncollectible accounts. The company determines $4,900 of accounts receivable on January 31 are past due, and 50% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 3% of these accounts are estimated to be uncollectible. The note receivable of $34,800 is considered fully collectible and therefore is not included in the estimate of uncollectible accounts. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.)
3. Accrued interest revenue on notes receivable for January.
4. Unpaid salaries at the end of January are $34,500.
5. Accrued income taxes at the end of January are $10,900